The social problem that I want to discuss is bringing technology to the developing countries. These are countries which have been hardest struck by Covid-19. The effects being increase rate of unemployment, disrupted supply chains and devastated sectors. That also make these areas as the ideal launching pads for future innovations. There is a potential monetization value of $3.4 trillion by 2030 in these developing nations.
The way technology can be best utilized in these nations is through technology innovation, physical capital, and competitiveness. The start point has to be the promotion of innovative users of data, deployment of Artificial Intelligence, Machine Learning and adopting cloud computing to accelerate middle economic growth. The goal is to establish something similar to Google Tensor Flow initiative so that a collaborative effort could be made to create a community where people can leverage these technologies and start applying them into businesses to drive digital transformation in these countries.
The next idea would be to ensure affordable access to internet in these areas. Again, the benchmark is Google who has already distinguished and placed itself well in these emerging markets through its Digital Sprinters program and projects Loon and Tara. Digital Sprinters is an initiative based on identifying policies key to drive digital-driven economic growth in emerging markets. Google is extending internet access in these areas through creation of a new layer of connectivity in stratosphere especially in areas where physical infrastructure is rare. It is also exploring technologies that replaces fiber optics cables deployment with high-speed data transmission through beams of light, reducing costs and deployment time. The idea is to provide a distinguished service like this and begin early. My recommendation would be to leverage spectrum sharing, which is a way to optimize use of the airways, wireless communication channels by enabling multiple categories of users to safely share the same frequency bands. One way this technology can be applied is that smartphones, IOT, military, wearable devise, smart vehicles all depend on same wireless bands of the electromagnetic spectrum to share data, voice, and images. So, establishing such a product not only serves these industries and the people but also allows early differentiation in the market and the market fit product from the get-go. The initiative will promote early adopters, followers and help the company to define the go-to-market strategies which will be critical in acquiring market share. The goal is to establish digital connectivity and infrastructure. It is not just about investment but also management of these services to realize the ideal supply chains.
The way to be competitive is these markets is through adopting balanced competition policies, enabling platform economy, and adopting tax economies for a digital economy. Microsoft and IBM have already negotiated corporate and government accounts and contracts in emerging economies of sub-Saharan Africa. New entrants and small companies cannot afford or are technically unable to comply with the costly regulations in these countries. Companies can start by targeting to develop small and medium businesses and startups. The focus can also be to create a social media platform through research and development that will be well suited in these areas leveraging the already established initiatives of the companies where they already have technologists and policy professionals to translate complex technical concepts and jargon into comprehensible information for policymakers and non-profits in these countries.
The support needed long term would be to train job seekers and owners of small and medium businesses in digital skills to have a more profound impact on the overall targeted economy and establishment of acquisition and monetization channels in the long term. That’s the first step. The next is to establish these ground-breaking inventions and programs and sustain them which would require a huge initial investment and development of an aligned addressable market to profit from. A Research and Development unit would need to be made functional which can analyze changing trends and demands and how to best incorporate and translate that into the changing requirements of the landscape. After that is established, the company will be well placed to enter these markets and hit the ground running.
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